Great Valley Advisor Group Inc. Has $3.13 Million Holdings in Halliburton (NYSE:HAL)

Great Valley Advisor Group Inc. increased its stake in shares of Halliburton (NYSE:HAL) by 10.9% in the third quarter, Holdings Channel reports. The firm owned 107,886 shares of the oilfield services company’s stock after buying an additional 10,575 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Halliburton were worth $3,134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cary Street Partners Asset Management LLC lifted its holdings in Halliburton by 56.5% during the third quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock worth $4,563,000 after acquiring an additional 56,707 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in Halliburton by 146.0% during the second quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock worth $28,455,000 after acquiring an additional 500,000 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Halliburton by 105.2% during the second quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock worth $6,316,000 after acquiring an additional 95,864 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Halliburton by 2,418.9% in the third quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock valued at $2,277,000 after purchasing an additional 75,275 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Halliburton by 23.1% in the third quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after purchasing an additional 3,150,986 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Halliburton Price Performance

Shares of NYSE HAL opened at $31.94 on Monday. The business’s 50 day moving average price is $29.45 and its two-hundred day moving average price is $31.97. The company has a market cap of $28.06 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 3.92 and a beta of 1.89. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Halliburton has a twelve month low of $27.26 and a twelve month high of $41.56.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period last year, the firm earned $0.79 EPS. Halliburton’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, analysts predict that Halliburton will post 3.01 EPS for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Wednesday, December 4th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Wednesday, December 4th. Halliburton’s payout ratio is 23.69%.

Wall Street Analysts Forecast Growth

HAL has been the topic of a number of research reports. Barclays cut their price target on Halliburton from $47.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Dbs Bank initiated coverage on Halliburton in a report on Wednesday, September 18th. They issued a “buy” rating and a $45.00 price target on the stock. The Goldman Sachs Group cut their price target on Halliburton from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. Raymond James cut their price target on Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a report on Friday, November 8th. Finally, Bank of America cut their price target on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.74.

About Halliburton

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.